For 2012, analysts had expected a growth in exports by 4%. Imports grew by 6%. Government forecasts of a 10% growth of trade off the mark. Credit increases by 28%. Foreign exchange reserves have had minimal increase since 2003.

Beijing (AsiaNews / Agencies) - In December, China's exports grew more than expected, but the outlook for 2013 remains fragile, given the difficulties of the U.S. and European markets.

According to China's customs statistics, exports of the second world economy in December grew by 14.1% (compared with the figures of the previous year). Many analysts had predicted an annual growth of 4%. Imports also grew by 6% in a year. The forecasts were 3%; last November forecasts were zero.

Another positive figure is the credit growth of 28%, which helps the country in economic growth after at least 7 months of slowing down.

Nevertheless, today's data confirms that in 2012, China has missed the government's combined trade growth forecast of 10%. The Chinese model based on cheap labor and on exports has been suffering for at least two years, partly because of the economic crisis that has hit the U.S. and the European Union. In 2012, the United States became China's number one export market, supplanting the EU. The increasingly likely recession in Europe does not predict positive days to come.

Figures released today show that in 2012 even the huge Chinese currency reserves have increased by a minimum, compared to 2003, with an increase of 128 billion dollars a year. Total reserves are 3.31 trillion dollars.

Tomorrow the government will publish data on inflation.

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